I want to let out my leasehold apartment in South Petherton and Lambrook. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

A lease governs relations between the freeholder and you the flat owner; specifically, it will say if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in South Petherton and Lambrook do not contain subletting altogether – such a clause would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

I am attracted to a two maisonettes in South Petherton and Lambrook which have about 50 years left on the leases. Do I need to be concerned?

There are plenty of short leases in South Petherton and Lambrook. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the marketability of the lease decreases and results in it becoming more costly to extend the lease. This is why it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this field

Can you provide any advice for leasehold conveyancing in South Petherton and Lambrook from the point of view of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in South Petherton and Lambrook can be reduced if you get in touch lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ solicitors.
• A minority of South Petherton and Lambrook leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers.

If you have had conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unsettled.

If you hold a share in a the freehold, you should ensure that you hold the original share certificate. Obtaining a replacement share certificate is often a lengthy formality and frustrates many a South Petherton and Lambrook home move. If a reissued share certificate is required, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later.

You may think that you are aware of the number of years remaining on your lease but you should verify this via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is under 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

All being well we will complete the sale of our £125000 garden flat in South Petherton and Lambrook in six days. The landlords agents has quoted £372 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in South Petherton and Lambrook?

For the majority of leasehold sales in South Petherton and Lambrook conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing conveyancing due diligence enquiries
• Where consent is required before sale in South Petherton and Lambrook
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for South Petherton and Lambrook leasehold property is £350. For South Petherton and Lambrook conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

What makes a South Petherton and Lambrook lease problematic?

Leasehold conveyancing in South Petherton and Lambrook is not unique. All leases are unique and legal mistakes in the legal wording can result in certain sections are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the premises
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, The Mortgage Works, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.

I invested in buying a studio flat in South Petherton and Lambrook, conveyancing having been completed 6 years ago. Can you work out an approximate cost of a lease extension? Similar properties in South Petherton and Lambrook with an extended lease are worth £170,000. The average or mid-range amount of ground rent is £55 yearly. The lease runs out on 21st October 2079

With just 53 years unexpired we estimate the price of your lease extension to be between £30,400 and £35,200 plus costs.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.

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Lease Extensions in South Petherton and Lambrook